Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Trading Up 0.1% – Here’s Why

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was up 0.1% during mid-day trading on Thursday . The stock traded as high as $11.27 and last traded at $11.26. Approximately 50,294 shares were traded during mid-day trading, an increase of 69% from the average daily volume of 29,737 shares. The stock had previously closed at $11.25.

Federated Hermes Premier Municipal Income Fund Stock Performance

The business has a 50 day moving average of $11.13 and a 200-day moving average of $10.99.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 23rd were given a $0.045 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, January 23rd.

Institutional Investors Weigh In On Federated Hermes Premier Municipal Income Fund

Several large investors have recently added to or reduced their stakes in the business. Pathstone Holdings LLC increased its position in shares of Federated Hermes Premier Municipal Income Fund by 30.8% in the third quarter. Pathstone Holdings LLC now owns 339,848 shares of the company’s stock worth $3,752,000 after purchasing an additional 80,046 shares during the last quarter. Guggenheim Capital LLC grew its stake in Federated Hermes Premier Municipal Income Fund by 33.1% in the 2nd quarter. Guggenheim Capital LLC now owns 275,617 shares of the company’s stock worth $2,933,000 after buying an additional 68,566 shares in the last quarter. Riverbridge Partners LLC lifted its holdings in shares of Federated Hermes Premier Municipal Income Fund by 34.8% during the 4th quarter. Riverbridge Partners LLC now owns 125,699 shares of the company’s stock worth $1,397,000 after acquiring an additional 32,478 shares during the last quarter. Raymond James Financial Inc. grew its position in Federated Hermes Premier Municipal Income Fund by 10.2% in the second quarter. Raymond James Financial Inc. now owns 89,524 shares of the company’s stock worth $953,000 after acquiring an additional 8,251 shares in the last quarter. Finally, City of London Investment Management Co. Ltd. increased its stake in Federated Hermes Premier Municipal Income Fund by 105.0% in the third quarter. City of London Investment Management Co. Ltd. now owns 71,605 shares of the company’s stock valued at $791,000 after acquiring an additional 36,680 shares during the last quarter.

Federated Hermes Premier Municipal Income Fund Company Profile

Federated Hermes Premier Municipal Income Fund (NYSE: FMN) is a closed-end management investment company that seeks to provide a high level of current income exempt from regular federal income tax, consistent with the preservation of capital. The fund primarily invests in a diversified portfolio of municipal securities, including investment-grade bonds, pre-refunded municipal obligations, variable rate demand obligations and related instruments. It may also allocate a portion of its assets to cash equivalents and repurchase agreements for liquidity and duration management.

The fund’s portfolio emphasizes quality and creditworthiness, focusing on sectors such as transportation, utilities, education and healthcare.